L Catterton, the consumer-focused private equity arm backed by French luxury giant LVMH Moët Hennessy Louis Vuitton, announced plans on May 30 to sell approximately 17.93 million shares of German sandal brand Birkenstock at $52.5 per share, to raise over $941 million. The offering price represents a roughly 3.3% discount to Birkenstock’s latest closing price, signaling cautious market sentiment around the deal. L Catterton acquired Birkenstock in 2021 for around $4.8 billion. This partial exit comes as the fund seeks to realize returns after several years of investment.